Confluence Investment Management LLC boosted its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 5.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 178,763 shares of the bank’s stock after purchasing an additional 8,733 shares during the quarter. Confluence Investment Management LLC owned approximately 0.28% of Cullen/Frost Bankers worth $17,352,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in CFR. JOYN Advisors Inc. grew its position in Cullen/Frost Bankers by 1,993.8% during the fourth quarter. JOYN Advisors Inc. now owns 335 shares of the bank’s stock valued at $29,000 after acquiring an additional 319 shares during the period. Lindbrook Capital LLC purchased a new stake in shares of Cullen/Frost Bankers in the fourth quarter worth about $37,000. First Mercantile Trust Co. boosted its position in shares of Cullen/Frost Bankers by 48.4% in the fourth quarter. First Mercantile Trust Co. now owns 460 shares of the bank’s stock worth $41,000 after buying an additional 150 shares during the period. Toronto Dominion Bank purchased a new stake in shares of Cullen/Frost Bankers in the fourth quarter worth about $77,000. Finally, Vigilant Capital Management LLC purchased a new stake in shares of Cullen/Frost Bankers in the first quarter worth about $85,000. Hedge funds and other institutional investors own 81.23% of the company’s stock.
Several brokerages have recently weighed in on CFR. Zacks Investment Research downgraded Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a research report on Tuesday, February 12th. Stephens set a $104.00 target price on Cullen/Frost Bankers and gave the stock a “hold” rating in a research report on Friday, February 8th. Bank of America downgraded Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and set a $96.00 price target for the company. in a report on Thursday, January 10th. Finally, Barclays reissued a “hold” rating and issued a $105.00 price target on shares of Cullen/Frost Bankers in a report on Friday, January 11th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $107.44.
In related news, EVP Carol Jean Severyn sold 3,750 shares of the stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $100.62, for a total value of $377,325.00. Following the completion of the transaction, the executive vice president now owns 1,250 shares of the company’s stock, valued at $125,775. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.84% of the company’s stock.
Shares of CFR opened at $104.08 on Wednesday. The stock has a market capitalization of $6.47 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 1.52 and a beta of 1.38. Cullen/Frost Bankers, Inc. has a one year low of $81.87 and a one year high of $121.66. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.07.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, January 31st. The bank reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.07. The firm had revenue of $360.93 million during the quarter, compared to the consensus estimate of $344.18 million. Cullen/Frost Bankers had a return on equity of 14.38% and a net margin of 32.44%. On average, research analysts anticipate that Cullen/Frost Bankers, Inc. will post 7.11 EPS for the current year.
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Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. The company operates in two segments, Banking and Frost Wealth Advisors. It provides commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction, equipment, inventories and accounts receivable, and acquisition financing; commercial leasing; and treasury management services.
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